Studies & Degrees in Business Administration
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Business Administration Study Programs
Business Administration is a very broad-based degree choice, concerned with the management of the business in its every aspect, and therefore involves the studies of various areas like Finance, Marketing, Management, Human Resources, Economics, International Relations, Operations Management, and so on. Usually, the Chief Executive Officer is the head of the whole process of Business Administration, while all other mentioned fields act as supportive functions.
Generally said, you could either be responsible to hire or supervise people within a firm; build strategies; position products; create brands; manage specific projects; or run a business of your own. It all depends on your ambition and aspirations, and a good choice could be to gain some experience, before you decide in which particular area you wish to dig into.
Because of the broadness of the subject area, personal qualities are also hard to narrow down. Still, if you wish to thrive in the business world, these are a few examples of the qualities that you need to possess:
- Excellent communication skills
- Problem-solving; respond well to pressure
- Good organizational and time-management skills
- Team player
- Flexible and easy to adapt
- Sharp mind
If you are looking to go into management roles, open-mindedness, creativity and empathy are other features of your character that you might wish to develop.
Study options for this degree are limitless. Bachelor’s degrees in Business Administration continue to grow in popularity, due to the high paying jobs, excellent career prospects, and the chance to earn an MBA in the future.
Every university offers a different type of Business Administration degree, and it is strongly recommended that you spend time to do your research in order to choose the institution that is best going to prepare you for the practical aspects of the business world. With this in mind, look out for undergraduate courses that maybe offer internship options, as well as a good mix of practical and theoretical subjects. If you have already graduated with another degree, but are looking to change your career path, a degree in Business Administration could be a very good choice, as there are numerous online university courses, structured to suit working and mature students. A great number of universities also offer distance learning or evening classes in this field, so it is all left in your hands to make the decision.
Career options, as already discussed, are very diverse. Jobs can be found in all of the following areas: banking, services, retail, manufacturing, hospitality, government and non-profit organizations. Not to forget that although job opportunities are wide, the pool of candidates with such a degree is also very big, so if you aspire to go into a management position, you would most likely have to further continue your education. A very common choice is to work for several years, and then return to the university to earn a Master of Business Administration degree (an MBA).
These are some roles you might go into after studying Business Administration: Accountant, Retail Manager, Marketing Manager, Banker, Controller, Human Resource Manager, Business Analyst, Management Associate, Strategy Consultant, and so on.
Last but not least, with a quality degree in Business Administration, some creativity and courage you might also choose to start your own business.
Job positions for Business Administration:
A career in business marketing is a very good opportunity to graduates of Business Studies. To become a Business Marketer would mean a part of the enormous number of professionals engage in marketing-related positions.
Business Marketers have immeasurable knowledge when it comes to products and consumers. A position in industries of economics, general business, finance, accounting firms, and the liberal arts awaits them and provides them with a higher than entry-level marketing position. This is synonymous to a good salary and a good opportunity of acquiring a higher position with higher level of responsibilities, too.
Why is the career of a Business Marketer one of the most attractive careers for many people? If one is going to look at the trend of professionals pursuing marketing careers, women outnumber men. This is because historically, women who graduated with marketing-related degrees have been hired mainly in retailing and advertising areas of marketing. So, it is no longer surprising that women are engaged in careers in pharmaceutical companies, banks, consumer product companies, industrial selling careers, publishing companies, non-profit organizations, arts organizations and more. However, it doesn’t mean that men don’t excel in this field, in fact they still are.
Business Marketers are also perfect candidates for rather high-ranking positions such as marketing directors, market research supervisors, market analyst, brand manager positions, and marketing vice-presidents. This is because every business marketer is equipped with highly-important skills that require marketing skills such as understanding consumer behaviors and their product preferences, the sales factor of a product, the strategies to compete with other markets, the power of proper and effective marketing, and so on and so forth.
With the skills, education, and work experience of business marketers, they become the most creative people in the world because they know how to introduce products well in the market. They are wired with ideas and thoughts on making the market interested in a specific product and service, and most especially, they have the capabilities of developing marketing strategies that will serve as a perfect media for clients.
Business Marketers also have impeccable skills when it comes to research and development methods. With the market information that they are able to gather they can create and develop new advertisement campaigns that will become a hit in the market. Their marketing research abilities will be relevant in branding and product management since they are very much concerned with a specific product’s packaging, manufacturing, distribution, sales, promotion, business analysis, and forecasting. Such are the powers of business marketers. Their purpose in every business is oftentimes highlighted because their technical background in marketing and in business studies is reliable and grounded in proven and tested marketing theories and approaches.
Finally, when it comes to building strong and formidable relationships with the customers and the market in its entirety, Business Marketers never fail to excel. This is exactly the reason why they are able to define problems and determine information that would be needed in problem solving. What business marketers do when faced with business dilemmas is to research and design solutions that will lead to better understanding of the problem like conducting surveys, taking statistics, and seeking for recommendations.
Chief Executive Officer (CEO)
To become a Chief Executive Officer or CEO of a blue chip company that has operations spanning all over the globe, one has really to be an exceptional individual. In the old days, a CEO is usually a member of a company’s founding family or a member of the family with the largest block of shares. Like royalty, the sons or scions of these traditional companies' owners were the likely to be the heirs to the fortune their fathers founded. However this practice has proven to be to the detriment of companies. Mismanagement was bound to happen as these apparent heirs were not really qualified to hold the position in the first place. As far as business is concern, the board of directors has learned from their mistakes and has decided to adopt a policy of appointing someone who have the qualifications and credentials to become a CEO or even other important positions and not out of familial considerations. The result of this of course is bigger dividends for stake holders so those with large stakes would also want their fortunes kept intact and dividends coming regularly so appointing an outsider or someone from the ranks would not be an issue as long as the company is making profits. One such example of an exceptional individual is Lee Iacocca, who started out as a design engineer then made good name in sales for Ford Motors and later on became company president before serving as CEO for Chrysler, one of the big three in the automobile industry in America. He was asked to serve as CEO because of his out-of-the-box thinking and his track record with Ford Motors. He steered the company from closing down during the 1979 crisis and repaid billions of dollars of debts in just five years.
Nowadays, to become even a middle manager (for multi-national companies), one must have at least an MBA degree from a reputable school, imagine what should be the credentials of a CEO. When a company is grooming someone to be a CEO, usually, educational sponsorships are given. One of the programs CEOs-to-be are being enrolled to is the global executive MBA program. Aside from the technical know-how to be learned from this program, a sponsorship of this scale usually is a stepping stone to a larger management responsibility like a COO, CFO and, of course, a CEO. Business trends currently are geared towards cross border trades and so a Global Executive MBA degree is a must-have tool in order to keep ahead of competition. More or less, this program will equip the CEO with knowledge on how to do better business offshore. Basically, CEOs are depended on decisions as to where the company is heading and so the program would give CEOs guides and tools on how to better make management decisions.
Truly, gone are days when CEOs can be complacent as to arrive in the office just to sign documents and hear updates from his secretary or executive assistant. CEOs now are always on the lookout for the next hot deal, what companies and corporations would give synergy to their current operations or anything that will increase the value of their company’s shares. Right now, the name of the game is to keep investors happy which is the primary job of the CEO and the only way to do that is by being dynamic and avoid the company from being stagnant.